D&M Canada To Close Ontario Office

Mahway, N.J. - D&M
Canada said it is reorganizing its business and as a result closing an office
in Markham, Ontario, on June 30.

It will re-position its
New Jersey headquarters to encompass the entire North American region,
including Canada sales and operations. As a result of the reorganization, there
will be an unspecified number of job losses.

D&M Canada president
Doug Griesbach will continue in his leadership role through the transitional
period, the company said. After this period, Toronto-based sales VP Phil Bryant
will continue managing the Denon business and will be adding responsibility for
Boston Acoustics. He will report to Phil Cohn.

Kevin Zarow, Marantz'
sales and marketing VP who is based, here, will oversee Marantz in Canada.

"Over the next several
weeks, Bob [Weissburg, president, D&M North America] will be communicating
about additional resources we will be adding to our new structure," a
spokesperson told TWICE.

A permanent local sales
office and warehouse facility will remain in Canada. When asked what lead to
this decision, Weissburg told TWICE, "The CE business is continuously evolving,
and we are making these changes at this specific time in order to be proactive,
take full advantage of all our U.S. resources, improve efficiency and logistics
while maximizing synergies with our U.S. operation across all our brands --
including Denon, Marantz and Boston Acoustics.

"As we initiate this
redeployment of resources, we will be making significant re-investments in
marketing, product development and process improvement -- all of which will
help us better serve our Canadian retail customers and professional installers
with the products and solutions they need to continue growing their businesses,
both in the short-and long-term," he said.

According to Weissburg,
sales are up in Canada in most product categories, and making these changes
will allow operations to be streamlined and resources committed "to developing
the kinds of products and home entertainment solutions geared to meet the needs
of retailers and installers in a variety of local regions, and to address
specific customer needs," he added. "Being able to utilize all of our U.S.
resources to facilitate the Canadian market will give us the ability to be more
proactive in targeted product development, promotions and marketing services."